Mobile Augmented Reality Market to Show Promising Growth on Account of Rise of AR in E-Commerce and Pervasive 5G Connectivity

Mobile Augmented Reality Market Scope & Overview

As per the SNS Insider report, the Mobile Augmented Reality Market was assessed at USD 13.2 billion in 2022. It is projected to surge significantly to USD 115.18 billion by 2030, exhibiting a notable CAGR of 31.1% throughout the forecast span from 2023 to 2030.

Mobile augmented reality (AR) is a cutting-edge technology that seamlessly blends the digital and physical worlds, enhancing our perception of reality through the use of smartphones or tablets. This dynamic technology has gained widespread popularity due to its ability to transform everyday experiences into interactive and engaging encounters.

Market Analysis

The mobile augmented reality market is on an exhilarating journey, fueled by a convergence of factors that span technological, industrial, and societal realms. The rollout of 5G networks has ushered in a new era of connectivity, offering unprecedented speed and low latency. This high-speed network environment is a game-changer for mobile AR, enabling real-time streaming of complex augmented reality experiences. With 5G, users can seamlessly access data-heavy AR content from the cloud, opening doors to richer, more interactive applications that were previously hindered by connectivity constraints. The mobile gaming industry has harnessed the power of augmented reality to create captivating and interactive gaming experiences. Titles like Pokémon GO and Minecraft Earth have demonstrated the massive potential of mobile AR gaming. As game developers continue to innovate and introduce novel AR-based gameplay mechanics, the demand for AR-ready devices intensifies, further stimulating the growth of the market.

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Key Players Covered in Mobile Augmented Reality market report are:

boogie (Us), FITC (Us), Apple (Us), Wikitude (Austria), Samsung Electronics (South Korea), Blippar (UK),MAXST (South Korea), Magic Leap US), Upskill (US),Atheer (US), Marxent Labs (US), Inglobe Technologies(Italy), Augment (France), Niantic (US), NEXT/NOW(US), 8ninths (US), Groove Jones (US), VironIT (US),Scope AR (US), EON Reality (US), INDE (UK), Zappar(UK), HQSoftware (Estonia), Talespin (US), Scanta(US), Craftars (Romania), Appentus Technologies(India), and BidOn Games Studio (Ukraine).

Impact of Recession

While a recession can introduce challenges to various industries, the impact on the mobile augmented reality market is nuanced. Consumer-oriented applications might experience a temporary setback due to reduced consumer spending, affecting device sales and AR app adoption. As history has shown, periods of recession can lead to both short-term adjustments and long-term transformations in various sectors, and the mobile AR market is likely to navigate these changes with resilience and adaptation.

Segmentation Analysis

As the mobile augmented reality market accelerates, the Smartphones Segment and the MAR Software Segment will continue to forge a path of innovation, each complementing and catalyzing the other’s growth. This collaboration is poised to shape not only the technology landscape but also the way we perceive and interact with the world around us. As these segments push the boundaries of what’s possible, society stands to gain a transformative window into the future—one where reality and imagination converge in mesmerizing harmony.

Mobile Augmented Reality Market Segmentation as Follows:

By Type
Marker-based (Passive Marker, Active Marker)
Markerless (Model-based, Image Processing-based)
Anchor-based

By Offering
MAR Software (AR application platforms, AR SDKs)
MAR Services (AR Design & Development, Deployment & Support Services)

By Device Type
Smartphones
Tablets
Personal Digital Assistants (PDAs)/Handheld Gaming Consoles
Other Devices (Smartglasses, Wearables)

By Application
Consumer (Gaming, Sports & Entertainment)
Aerospace & Defense
Healthcare
Commercial (Tourism & Sight-seeing, E-learning, E-commerce & Marketing)
Enterprise (Manufacturing)
Others (Architecture & Building Design, Geospatial Mining)

Segmented by Region/Country:
North America
Europe
China
Japan
Asia Other

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Regional Status & Analysis

North America remains at the forefront of the mobile augmented reality market due to its early adoption of technological innovations and the presence of tech giants investing heavily in AR research and development. Asia Pacific stands as a region of immense market potential for mobile AR, primarily due to its rapid urbanization, burgeoning middle class, and the integration of AR into various aspects of daily life. Countries like China, South Korea, and Japan have embraced mobile AR for gaming, social media, and e-commerce, leading to a thriving virtual commerce ecosystem.

Conclusion

The market is on the brink of a transformative era. With the expanding application landscape, enterprise integration, hardware advancements, 5G connectivity, social AR, and the imperative of data security, the stage is set for exponential growth. As innovative minds continue to push the boundaries of what’s possible, mobile AR will undoubtedly reshape industries, empower users, and redefine the way we perceive and interact with the world around us.

Table of Content – Analysis of Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Mobile Augmented Reality Market Segmentation, By Type
9. Mobile Augmented Reality Market Segmentation, By Offering
10. Mobile Augmented Reality Market Segmentation, By Device Type
11. Mobile Augmented Reality Market Segmentation, By Application
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
15. Conclusion

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Frequently Asked Questions

Q1. What is the projected outlook for mobile augmented reality market growth?

ANS: The global market to hit USD 115.18 billion by 2030, exhibiting a notable CAGR of 31.1% throughout the forecast span from 2023 to 2030.

Q2. What are the major factors influencing the mobile augmented reality market?

ANS: The ongoing integration of AR into healthcare practices is set to drive both technological advancement and market expansion.

Q3. Who are the leading players in the mobile augmented reality market?

ANS: boogie (Us), FITC (Us), Apple (Us), Samsung Electronics (South Korea), Blippar (UK), MAXST (South Korea), Marxent Labs (US), Augment (France), Niantic (US), NEXT/NOW(US), VironIT (US), Scope AR (US), EON Reality (US), INDE (UK), Craftars (Romania), Appentus Technologies (India)

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